22 Feb 2010
(MENAFN) A research issued by The National said that Gulf companies registered more than $3.5 billion losses in the fourth quarter last year, TradeArabia reported.
The report said that finance and real estate firms were the worst hit by the global crisis, weighing heavily on regional markets in the last few months.
Figures showed that among property developers which saw big losses during the quarter were Aldar Properties, the region’s second-largest developer by assets, which posted $153.2 million during the three-month period. Union Properties posted $135.5 million full-year loss in 2009.
Analysts expect further declines in the real estate market in the GCC region, particularly the UAE, which could adversely impact the balance sheets of banks and property developers.
Several analysts argued that this year would be more challenging than 2009 for companies, citing too many players, too much risk and too few opportunities available, according to the report.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more